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Updated about 11 years ago on . Most recent reply
Mobile home deals? lease option? owner financing?
I contacted this owner on craigslist for a 3 bdr 2 bath mobile home for $24,000 or best offer. I would like to know how fellow investors go about this type of investments. can you wholesale, or do lease option? The seller will owner finance as well. What are the contracts I need? and the risk?
Karis
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#4 Innovative Strategies Contributor
- Rental Property Investor
- Clarkston, GA
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#4 Innovative Strategies Contributor
- Rental Property Investor
- Clarkston, GA
We buy mobile homes titled on land only on perm foundations. Then they are manufactured houses and not mobile homes.
You need to find out if this is a MH in a trailor park on rented land. If so no deal. Nothing you can do IMHO. Folks will say Lonnie Deals are not dead, but they are to me. The MH park manager can strangle any deal with your buyer or renter if they don't like investors working their park. This sounds like a rented land situation.
Plus MHs age quickly. We only buy newer than 2000 that are clean and solid.
I bet the seller has an older MH and $25k is the balance do on his financing and he's trying to get out. He needs to find a owner occupant the MH park manager approves.
Just some guesses for you.